STANDALONE AND CONSOLIDATED FINANCIAL RESULT FOR THE 4TH QUARTER AND YEAR ENDED 2025
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Gajanan Securities Services Ltd reported FY25 results with an unmodified audit opinion from M/s P Khetan & Co. Standalone revenue from operations collapsed to Rs 3.08 lakh (vs Rs 22.75 lakh in FY24), resulting in a pre-tax loss of Rs 7.20 lakh; however, a deferred tax credit of Rs 17.70 lakh pushed standalone PAT to Rs 10.50 lakh. On a consolidated basis, total income fell to Rs 27.77 lakh (vs Rs 35.97 lakh), and profit after share of associate dropped sharply to Rs 23.08 lakh (vs Rs 98.21 lakh). The auditor flagged an Emphasis of Matter: a prior-year error in classifying the Shakambhari Oversea Trade Pvt Ltd investment (now reclassified as a fair-value financial asset) was corrected by restating opening balances as of 1 April 2024, adding Rs 797.76 lakh to retained earnings. Cash flow from operations was negative on both standalone (Rs -11.99 lakh) and consolidated (Rs -95.03 lakh) bases.
Operating performance deteriorated materially on a consolidated basis with PAT falling ~76% YoY, and the company is burning cash from operations. The reclassification gain is non-cash and historical — investors should focus on the weak core earnings and negative operating cash flows rather than the headline restated equity.